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Regulations & Policy

Senator questions relationship with Pacific Rubiales

Colombian Senator Maritza Martínez Aristizábal has questioned the relationship and awarding of contracts between the state and Canadian oil and gas company Pacific Rubiales ahead of senate discussions surrounding a contract with Ecopetrol set to expire in 2016.

Wednesday, May 15th, 2013
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Comptroller says Ecopetrol and Meta Petroleum Corp Court ruling could cost state US$13M

Comptroller says Ecopetrol and Meta Petroleum Corp Court ruling could cost state US$13M

The Quifa/Pacific Rubiales/Ecopetrol story never dies! Now the Comptroller General (a kind of Auditor General) weighs in on the March 13, 2012 ruling to emphasize the difference in current WTI prices versus the historic prices, and therefore the Colombian state risks losing US$13M.From a Comptroller General press release, translated and with commentary by Hydrocarbons Colombia

Tuesday, May 14th, 2013
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Crude oil production above 1Mbd for second month in a row

Crude oil production above 1Mbd for second month in a row

Just in time for the Minister’s speech to the CinMiPetrol conference next week in Cartagena, the Ministry announces a second consecutive month with crude oil production above 1Mbd. April’s number was 1,006,799bd which was below the record 1,013,481bd last month but still above the objective and much better than February’s result.

Wednesday, May 8th, 2013
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Government jump starts royalties project approvals with OCADTONs

Sounding like something from a Transformers movie and merging the acronym ‘OCAD’ (for the initials in Spanish of the boards that approve projects looking for royalty money) and ‘marathon’, the invented word ‘OCADton’ is supposed to reassure local municipalities that the process is working faster in 2013. From a DNP press release, translated and with commentary by Hydrocarbons Colombia.

Wednesday, May 8th, 2013
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Important MinMinas/ANH announcement about applications

We thought this ANH announcement that appears on both the MinMinas and ANH websites was important because it describes a change in procedure for applications and permits as of May 3, 2013. The changes were announced over a year ago but take effect this month. Translated by Hydrocarbons Colombia.

Tuesday, May 7th, 2013
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Former British Prime Minister to the rescue

When we saw this, we thought it was a garbled rumor but it appeared on the National Planning Department (DNP) website. Then on TV we saw Blair sitting with senior DNP officials and smiling to the press at the foot of the main staircase in the presidential palace. The story passed from rumor to theater of the absurd. From a DNP press release, translated and with commentary by Hydrocarbons Colombia.

Monday, May 6th, 2013
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Colombia second largest ethanol producer in Latin America

Newspaper El Nuevo Siglo interviewed Jorge Bendeck, Fedebiocombustibles president, who referred to the advantages of using biofuels and the current state of the sector in the country. According Bendeck, although the government has supported the biofuels industry, it does not stimulate domestic consumption.

Wednesday, May 1st, 2013
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MinMinas says oil reserves up 5.2 percent, gas up 5.7 percent

MinMinas says oil reserves up 5.2 percent, gas up 5.7 percent

The country’s reserve report for 2012 has been much anticipated because prior signals were not very positive. Government officials publicly worried about reserve-production ratios as did the Colombian Petroleum Association (ACP). The three of the largest companies (Ecopetrol, Pacific Rubiales, Petrominerales) did not have good years for oil exploration in Colombia. We think ‘Small Oil’ made up the difference. Overall, this is good news but our commentary points out that there is still much to do. From a MinMinas press release, translated and with commentary by Hydrocarbons Colombia

Wednesday, May 1st, 2013
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MinMinas creates International Cooperation Committee

MinMinas is usually pretty economical with its press releases (unfortunately for those of us who need to publish content on the Colombian hydrocarbons industry). Here they use one to announce an internal committee. From a MinMinas press release, translated and with commentary by Hydrocarbons Colombia.

Sunday, April 28th, 2013
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Send the money and we will figure out what to do with it afterward

It apparently only dawned on President Juan Manuel Santos last week at the annual mayors’ meeting that the new royalty system had left some producer municipalities without funds. This is the fourth of four articles we have published this week as the government tries to solve in a matter of days, a problem that has built up over a year. From a DNP press release, translated and with commentary by Hydrocarbons Colombia.

Thursday, April 25th, 2013
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